Price Cap Possible as Rising Energy Costs Loom in Pennsylvania

(The Center Square) – A new deal could dampen the shock of anticipated price spikes from rising energy costs. On Tuesday, Pennsylvania Gov. Josh Shapiro said PJM will support a new price cap meant to lower the cost of the power grid in the coming year after a recent auction forecasted an 800% increase. That spike would have translated to a 30% rise in utility bills. The price cap must receive official approval from the transmission, generation and distribution companies that supply the grid, as well as the O.K. from federal regulators.